Prelim values creep up in Bayshore, down in NFM

Story by Chuck Ballaro

Overall valuation for properties within North Fort Myers’ two fire districts show mixed results in the wake of Hurricane Ian, according to numbers released by the Lee County Property Appraiser ’s Office

Bayshore’s overall valuation ticked upward as it has for the past decade.

Overall valuation within the North Fort Myers Fire & Rescue district saw a drop for the first time since 2012, though new construction throughout the area helped make up for the losses

Bayshore’s preliminary overall valuation increased 4 68 percent, up from the estimate of 2 71 percent in June

Overall taxable valuation impacts property tax rates and so operational budget revenue for government entities.

Bayshore, which also handles Babcock Ranch, wasn’t hit quite as hard since there are fewer homes near the river Also, an increase in new construction resulted in what should be an increase of $100,000 in next year ’s budget, Bayshore Fire Chief Doug Underwood said

“The property appraiser was trying to get the newer homes online after the estimates came in. They were working heavily on the damaged structures,” Underwood said “Most of the increase comes from new construction, which offset the damage done along the river ”

Underwood said it will be another tight year, as it usually is with Bayshore, being one of the smallest fire districts in the county It will continue to fund three firefighters through federal SAFER grants, as it has for years, though the goal is to become fully self-sufficient

“The cost in insurance has gone up, we’re getting quite a bit of increases for buildings and increases in what we pay into the Florida Retirement System,” Underwood said “That will eat up our increases ”

In North Fort Myers, overall valuation sank 6 4 percent in 2022, which was greater than the estimated June number of a 5 53 percent decline

North Fort Myers was hit much harder by Hurricane Ian, but also benefited from new construction, meaning Fire Chief Ronald Beecroft doesn’t expect the budget to be hit too hard.

“The drop was expected from the damage done by the hurricane We were prepared for it,” Beecroft said “We always have reserves and we’ll make it work ”

Reserves will not be necessary, Beecroft said, and it will be business as usual Money that was used for other things, will be shaved off to make up the difference.

“New construction has helped us out with Crane Landing, Del Webb and a couple other places going up So you can expect the same service as always,” Beecroft said

Property Appraiser Matt Caldwell said the real estate market was soaring before the hurricane, and continues to do so despite the hurricane

“People who have lived here more than a day know how heated the market has been, but the hurricane had an impact,” Caldwell said. “When you see the number of houses being built in the last year, a ton of new construction value was added, more than $3 billion All that development is happening in Cape Coral and Lehigh outside the majorly impacted storm areas.”

Overall, estimated overall just valuation in Lee County rose 11.25 percent over last year. County just valuation went up from $180,629,897,687 to $200,951,353,099, an increase of nearly $18 6 billion

Total taxable valuation increased from approximately $112 6 billion to $120 1 billion, an increase of $7 51 billion or 6 67 percent The school taxable valuation numbers were higher with an increase of nearly $11.49 billion, or 8.98 percent.

Property tax increases are capped in Florida, with owner-occupied residential properties that are Homesteaded receiving the greatest protection, a maximum 3 percent tax increase

Those without it are capped at 10 percent For taxing entities, increased taxable valuation means an increase in revenue at the current rate of taxation; the “rollback” millage rate keeps revenue flat.

The figures for all taxing districts will now be sent to Tallahassee for approval

TRIM Truth in Millage– notices will be mailed to property owners in August

Property owners will then have 25 days to resolve any disagreement in value with the property appraiser